12 U.S.C. § 2908 — Small bank regulatory relief
submitted 27 years ago by Pub. L. 95-128 to r/title-12-BANKS-AND-BANKING · 221 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Except as provided in subsections (b) and (c), any regulated financial institution* with aggregate assets of not more than $250,000,000 shall be subject to routine examination under this chapter—
not more than once every 60 months for an institution that has achieved a rating of “outstanding record of meeting community credit* needs” at its most recent examination under section 2903 of this title;
not more than once every 48 months for an institution that has received a rating of “satisfactory record of meeting community credit needs” at its most recent examination under section 2903 of this title; and
as deemed necessary by the appropriate Federal financial supervisory agency*, for an institution that has received a rating of less than “satisfactory record of meeting community credit needs” at its most recent examination under section 2903 of this title.
A regulated financial institution described in subsection (a) shall remain subject to examination under this chapter in connection with an application for a deposit facility*.
A regulated financial institution described in subsection (a) may be subject to more frequent or less frequent examinations for reasonable cause under such circumstances as may be determined by the appropriate Federal financial supervisory agency.
Source credit: (Pub. L. 95–128, title VIII, § 809, as added Pub. L. 106–102, title VII, § 712, Nov. 12, 1999, 113 Stat. 1469.)
- 1999Enacted · Pub. L. 95-128 · 113 Stat. 1469
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-128 on 1999-11-12.
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